Brokerages Set Bio-Rad Laboratories, Inc. (NYSE:BIO) Price Target at $395.20

Shares of Bio-Rad Laboratories, Inc. (NYSE:BIO) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $395.20.

Several research analysts have recently issued reports on BIO shares. Wells Fargo & Company cut their price target on Bio-Rad Laboratories from $360.00 to $345.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. StockNews.com cut shares of Bio-Rad Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Citigroup increased their price target on shares of Bio-Rad Laboratories from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $481.00 price objective on shares of Bio-Rad Laboratories in a research report on Tuesday, January 14th.

Institutional Trading of Bio-Rad Laboratories

Hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC lifted its stake in shares of Bio-Rad Laboratories by 2,175.0% during the 4th quarter. Venturi Wealth Management LLC now owns 91 shares of the medical research company’s stock worth $30,000 after purchasing an additional 87 shares during the period. GeoWealth Management LLC increased its stake in Bio-Rad Laboratories by 342.9% in the fourth quarter. GeoWealth Management LLC now owns 93 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 72 shares during the last quarter. Gladius Capital Management LP purchased a new position in Bio-Rad Laboratories during the third quarter worth about $32,000. Picton Mahoney Asset Management boosted its stake in Bio-Rad Laboratories by 55.6% in the 4th quarter. Picton Mahoney Asset Management now owns 98 shares of the medical research company’s stock worth $32,000 after buying an additional 35 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in Bio-Rad Laboratories in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Bio-Rad Laboratories Trading Down 0.2 %

Shares of Bio-Rad Laboratories stock opened at $276.85 on Friday. The company has a 50-day moving average of $329.49 and a two-hundred day moving average of $333.37. Bio-Rad Laboratories has a 12-month low of $262.12 and a 12-month high of $387.99. The company has a current ratio of 6.48, a quick ratio of 4.85 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.75 billion, a PE ratio of -4.26 and a beta of 0.90.

Bio-Rad Laboratories (NYSE:BIO) last released its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.04. Bio-Rad Laboratories had a positive return on equity of 3.90% and a negative net margin of 71.86%. On average, research analysts anticipate that Bio-Rad Laboratories will post 10.81 EPS for the current fiscal year.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc manufactures and distributes life science research and clinical diagnostic products in the United States, Europe, Asia, Canada, and Latin America. It operates through two segments, Life Science and Clinical Diagnostics. The company develops, manufactures, and markets instruments, systems, reagents, and consumables to separate, purify, characterize, and quantitate biological materials such as cells, proteins, and nucleic acids for proteomics, genomics, biopharmaceutical production, cellular biology, and food safety markets.